Nigeria proposes to spend Naira 888.1bn ($5.7bn) on oil subsidies and outstanding payments for petroleum products imports, after an initial plan to remove the subsidy triggered crisis and chaos in the country, says the Finance Minister. This compares with the Naira 1.7 trillion spent on subsidizing fuel imports in 2011, adding that while Naira 656.3bn ($4.15bn) would be spent on subsidizing gasoline and diesel in 2012, Naira 231.6bn would be used to settle outstanding payments owed on fuel imported in 2011.